currency devaluation

  • Power Prices to Remain Stable

    Power Prices to Remain Stable

    Tuesday, 8th November 2016
    As a result of the EGP devaluation, the Egyptian Ministry of Electricity will incur about EGP 100b yearly, EGP 50b came due to the repricing of fuel used in power generation. Yet, there will be no increase in the selling prices of electricity before the beginning of the next fiscal year.
  • Egypt Devalued The EGP

    Egypt Devalued The EGP

    Thursday, 3rd November 2016
    Egypt has devalued its currency by 48%. The devaluation pegged the Egyptian pound at 13 to the dollar, up from nearly nine on the official market
  • El Sisi: Egypt to End Its FX Exchange Problem

    El Sisi: Egypt to End Its FX Exchange Problem

    Tuesday, 23rd August 2016
    Egyptian President, Abdel Fattah El Sisi, stated that Egypt would end its dollar exchange rate problem, as the country can’t put off tough measures to revive the economy, while the UAE offer a $1b deposit to the Central Bank of Egypt.
  • Nigerian President Rejects Currency Devaluation

    Nigerian President Rejects Currency Devaluation

    Monday, 22nd February 2016
    Nigeria's President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per $1 in mid February.